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    3012 N Laramie Ave Chicago, IL 60641

    For Sale
    $775,000

    Mixed-use property featuring retail spaces and residential units in Chicago.

    Property Features for 3012 N Laramie Ave

    General Information

    Standard status
    Active

    Building Details

    Year built
    1930

    Source: SPERRY VAN NESS Agent ANGELO LABRIOLA

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mixed-Use Building with Retail and Apartments

    This mixed-use building comprises a total of 5 units, featuring two retail spaces on the ground floor and 3 residential units on the upper levels. The retail units, currently occupied by a single bakery tenant since 1986, can be separated. Zoned B1-1, the retail spaces include black iron, a partial basement, and ample storage, benefiting from high foot traffic suitable for retail businesses. The property also features 3 residential units above the retail space, each containing 2 bedrooms and 1 bathroom. At the rear of the property, there are 3 parking spaces, including 1 garage spot and two pad parking spaces. All leases are month-to-month and below market rate, presenting a value-add opportunity for investors or owner-users to enhance their portfolio with a cash-flowing property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Laramie Bakery & Deli Deli El Porvenir Bakery ... Bakery Panaderia Pan-Chito Bakery

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7569319
    Latitude
    41.9355449

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property featuring retail spaces and residential units in Chicago.
    Where is this mixed-use property located?
    The property is located at 3012 N Laramie Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $775,000.
    What are key features of this property?
    This property features: - Mixed-use building offers diverse income streams with 2 retail spaces and 3 residential units.; - Value-add opportunity with month-to-month leases currently below market rate.; - High foot traffic in a B1-1 zoned area, ideal for retail businesses.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3012 N Laramie Ave Chicago, IL 60641
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